The US and Israel’s war against Iran adds another day under a constant rain of bombs. It has not only brought a new geopolitical panorama, but also a very notable problem with oil.
Since the first attacks on Saturday, February 28, for the international trade and transportation of crude oil, an element of which Tehran is an irreplaceable product today.
As many feared, the succession of events has led oil to reach very high prices, which have had an immediate effect on the rise of gasoline and especially diesel.
However, in the continuous attacks by the US and Israel and in Iran’s constant replies to the surrounding countries, allies of the US, there is a point that escapes crossed hostilities.
This is the island of Jark, a small site of Iranian sovereignty in the north of the Persian Gulf, about 500 kilometers north of the Strait of Hormuz and relatively close to the coasts of Iraq or Kuwait.
It is more than just a relevant island, despite its small size and around 10,000 inhabitants. And it is, basically, because it is the great ‘supplier’ of Iran’s oil. 90% of the country’s crude oil exports originate or flow from Jang Island.
Attacking the Iranian regime could involve bombing its oil facilities on this small island to cause more damage to the power of the ayatollahs, but doing so would entail .
According to , Just touching this enclave would trigger crude oil prices to levels that are now distant. “We could see the price of $120 a barrel that we saw on Monday rise to $150 if Jark were attacked,” says Neil Quilliam of the Chatham House think tank. He highlights that the island is a “crucial point for global energy markets.”
On average, between 103 and 106 million barrels of oil pass through the island’s scarce eight kilometers per day, although Iran recently gave orders to double production, which reached up to 3 million in some days, while they maintain more than substantial reserves.
For Lynette Nusbacher, a former British army intelligence officer, destroying Jark or at least damaging its large export center would not only cause an increase in the price of oil that “would not go down quickly.”
“The island is so important to the Iranian economy that the destruction of its facilities would mean giving up any pretense that the war is being fought to generate a better future for Iran,” since it would leave the government that succeeds the ayatollahs without much of the resources.
